In a letter to customers Tuesday, Commercial Metals Company announce they would be raising rebar prices by $1.50 cwt. ($30/nt or $33/mt), effective with all new orders.
Other US domestic rebar mills are expected to follow suit.
Prior to the increase announcement, US domestic rebar spot prices were trending at $30.50-$31.50 cwt. ($610-$630/nt or $672-$694/mt) ex-Midwest mill and $31.50-$32.00 cwt. ($630-$640/nt or $694-$705/mt) ex-East coast mill.